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Firms Fear MiFID-Style Reporting Crunch for Brexit Day One

Firms Fear MiFID-Style Reporting Crunch for Brexit Day One

Posted on Wed, Mar 13, 2019 @ 7:12

By Samuel Wilkes
March 11, 2019, Risk

There is too little time left to prepare reporting systems fully for amendments to financial market transparency requirements if the U.K. leaves the European Union without a deal on March 29, the industry fears.

“If the no-deal were to occur on the 29th, is it the end of the world? No, but it is going to be super painful,” says Sassan Danesh, a member of the management team at the Derivatives Service Bureau, run by the Association of National Numbering Agencies (ANNA DSB).